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Economic Data

Welcome to the ‘Economic Data’ section of Insight DIY, which includes a summary of all of the key UK economic indicators that you may need to know within your business. Each of these key indicators are updated as and when they are released by their various sources and provide a really valuable addition to any monthly report or business overview.

UK Retail Sales

Retail Sales

Month on Month Value Change: -1.1%
Month on Month Volume Change: -1.2%

Most recent 3 months v previous 3 months Value Change: +1.3%
Most recent 3 months v previous 3 months Volume Change: +0.6%

Period: May 2017

Released: 15th June 2017
Next Release Date: 20th July 2017

A first estimate of retail sales in volume and value terms, seasonally and non-seasonally adjusted.

Source: Office for National Statistics

UK Consumer Price Index (CPIH)

CPIH image

Percentage Annual Change (to May 2017): +2.7% 

Previous Month Percentage Annual Change (to April 2017): +2.6%

Percentage Monthly Change: +3.5%
Previous Month Percentage Monthly Change: +3.2%
Monthly Index: 103.5
Previous Monthly Index: 103.2 (2015 = 100)

Period: May 2017

Release Date: 13th June 2017
Next Release: 18th July 2017

Price indices, percentage changes and weights for the different measures of consumer price inflation. 

Source: Office for National Statistics

Nationwide House Price Index

House Prices

Monthly Index: 412.4 - May 2017
Previous Monthly Index: 413.3 - April 2017
Monthly Change: -0.2%
Previous Monthly Change: -0.4%
Annual Change: 2.1%
Previous Annual Change: 2.6%
Average UK House Price: £208,711
Previous Month Average House Price: £207,699

Period: April 2017

Release Date: 2nd June 2017
Next Release Date: 3rd July 2017

Nationwide are the world's largest building society and one of the UK's largest mortgage providers. They have the longest unbroken run of house price data, stretching back to 1952 on a quarterly basis and 1991 on a monthly basis. Here you can access their monthly and quarterly house price reports, special features and download data series. 

Source: Nationwide House Price Index

GfK Consumer Confidence Barometer

Consumer Confidence Index

Monthly Index: -5
Previous Month's Index: -7
Monthly Index Previous Year: -1
Period: May 2017

Release Date: 31st May 2017

Next Release Date: 30th June 2017

Source: GfK

UK Construction Purchasing Managers' Index (Markit and CIPS)

Markit logo

Index: 56.0 – May 2017
Previous month: 53.1 – April 2017

Publication date: 2nd June 2017
Next publication date: 3rd July 2017

The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager's Index (PMI) is a diffusion index incorporating survey results provided by construction firms throughout the country. A reading above fifty suggests the construction sector is expanding, while a reading below fifty suggests the construction sector is in contraction. Policymakers and traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, rather than waiting for the hard data to emerge.

Source: Markit Economics

UK Gross Domestic Product (GDP)

Gross Domestic Product

GDP volume: +0.2% - Quarter 1 (January to March) 2016 - compared with growth of +0.7% in Quarter 4 (October to December) 2016

Period: Q1 2017 – Second estimate of GDP

UK GDP growth in Quarter 1 2017 has been revised down by 0.1 percentage points from the preliminary estimate published on 28 April 2017; mainly due to broad-based downward revisions within the services sector.

Release Date: 25th May 2017
Next Release Date: 30th June 2017

Preliminary, second and final estimates of GDP released over a quarter as more data becomes available. The final estimate is published in the Quarterly National Accounts. GDP is the main measure of UK economic growth based on the value of goods and services produced during a given period.

Source: Office for National Statistics

Bank of England Base Rate

Bank of England

Current Bank Rate: 0.25%
Previous Month’s Bank Rate: 0.25%

Release Date: 11th May 2017
Next Release Date: 15th June 2017

Source: Bank of England

UK Producer Price Inflation (PPI)

Producer Price Index

Factory gate prices have grown for 15 consecutive months to April 2017 despite raw material costs being relatively flat since January 2017.

The monthly rate of inflation for goods leaving the factory gate (output prices) was unchanged at 0.4% in April 2017, while input prices rose 0.1% following 2 months of no growth.

The annual rate for factory gate price inflation was positive but unchanged at 3.6%, while the annual growth rate for input prices fell back to 16.6% from a peak of 19.9% in January 2017.

Prices for imported materials and fuels rose 14.9% on the year and were lower than overall input costs for the third month in a row following a strengthening in the value of sterling over recent months. 

Period: April 2017 

Changes in the prices of goods bought and sold by UK manufacturers including price indices of materials and fuels purchased (input prices) and factory gate prices (output prices).

Release Date: 16th May 2017
Next Release: 13th June 2017

Source: Office for National Statistics

NHBC - New Build Statistics/New Registrations

NHBC flag

Total Registrations Q1 2017: 42,470
Total Registrations Q1 2016: 36,351
Percentage Change: +17% - resulting in the highest quarter in 10 years.

Private Sector Registrations Q1 2017: 31,197
Private Sector Registrations Q1 2016: 28,278
Percentage change: +10%

Public and Affordable Sector Registrations Q1 2017: 11,273
Public and Affordable Sector Registrations Q1 2016: 8,073
Percentage change: +40%

Commenting on the latest new home statistics, NHBC Managing Director Neil Jefferson said: “These figures, with growth across the entire country, are clearly encouraging for the sector, at a time when there is considerable demand for new, high-quality homes.

"This growth in Registrations, in both the private and affordable sector, is welcome news and will result in more newly built homes across the UK over the coming months."

Release Date: 27th April 2017
Next Release: May 2017

Source: NHBC

UK Population Figures

UK Census

UK population: 65,110,000 (mid 2015 estimates)
UK population: 64,596,800 (mid 2014 estimates)
Percentage change: +0.8%

Male: 32.1 million (49.3%)
Female: 33.0 million (50.7%)

Estimated population of England: 54,786,300 (84% of the UK’s population)
Estimated population of Scotland: 5,373,000 (8% of the UK’s population)
Estimated population of Wales: 3,099,100 (5% of the UK’s population)
Estimated population of Northern Ireland: 1,851,600 (3% of the UK’s population)

2015 UK population aged 65 and over: 11.6 million (17.8% of the population)
2015 UK population aged 85 and over: 1.5 million (2.3% of the population)

Mid-year population estimates relate to the usually resident population. They account for long-term international migrants (people who change their country of usual residence for a period of 12 months or more) but do not account for short-term migrants (people who come to or leave the country for a period of less than 12 months). This approach is consistent with the standard UN definition for population estimates which is based upon the concept of usual residence and includes people who reside, or intend to reside, in the country for at least twelve months, whatever their nationality.

Data last updated: 23rd June 2016

Next Update: June 2017

Source: ONS

UK Labour Market

Unemployment office

Unemployment rate: 4.7% (December 2016 – February 2017)
Previous annual rate: 5.1% (December 2015 – February 2016) 

Employment Rate: The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.6%, the joint highest since comparable records began in 1971.

Number of unemployed: There were 1.56 million unemployed people (people not in work but seeking and available to work), 45,000 fewer than for September to November 2016 and 141,000 fewer than for a year earlier.

Period covered: December 2016 – February 2017

Publication date: 12th April 2017
Next publication date: 17th May 2017

The level and rate of UK unemployment measured by the Labour Force Survey (LFS) using a definition of unemployment specified by the International Labour Organisation. Unemployed people as those without a job who have been actively seeking work in the past 4 weeks and are available to start work in the next 2 weeks. It also includes those who are out of work but have found a job and are waiting to start it in the next 2 weeks.

Source: Office for National Statistics

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Neil Anderton - Sales Director, British Ceramic Tile
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